Belgium's Solvay to acquire control of India’s Sunshield Chemicals

?xml:namespace>SINGAPORE (ICIS)--Solvay will acquire controlling interest in India’s surfactants producer Sunshield Chemicals for an undisclosed amount, the Belgian company said on Thursday.

“This acquisition will enable Solvay's Novecare business to accelerate growth plans in India for the home and personal care, agrochemicals, coatings and industrial applications markets. Solvay is determined to double its sales in India by 2015,” it said.

Solvay has signed an agreement with India’s Amit Choksey Group for the acquisition of Sunshield Chemicals, which is listed on the Bombay Stock Exchange.